Top YouTube Channel Made An Animated Break Down Of The Failure Of Fyre Festival

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Ahh Fyre Festival, for a dance music blogger, it is truly the gift that keeps on giving. Just when you think that the most hilarious pieces of info has dropped around the failed culture phenomenon, more just keeps coming out. In the latest edition of hilarious Fyre Festival information we have a wonderful animated short

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This EDM Cruise Ship Almost Became The Fyre Festival Of The High Seas

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Music festivals are constantly evolving. Just a few years ago, there were just a few major festivals, but now music festivals and the industry has exploded. This has come with the good; regional festivals have flourished with local scenes and support from major headliners, but this has also come with the bad. Music festivals such

The post This EDM Cruise Ship Almost Became The Fyre Festival Of The High Seas appeared first on EDM Sauce.

Fyre Festival founder pleads not guilty to fraud charges

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Fyre Festival founder Billy McFarland has pleaded not guilty to charges of wire fraud and making false statements to a bank.

McFarland was arrested in June on two counts of wire fraud and two counts of making false statements to a bank after he reportedly defrauded investors in Fyre Media. McFarland allegedly presented fake documents to convince investors to contribute more than $3 million to his company and the Bahamian festival.

In addition to the criminal charges, a number of civil lawsuits have been filed against McFarland and the festival’s other co-founder, Ja Rule, who has not been criminally charged.

Attendees of the late April festival paid thousands of dollars for the luxury event and were promised the “unparalleled best in music, cuisine, design and hospitality on a private island in the Exumas.” When they arrived, however, they were met with the total chaos of a completely underprepared event.

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New details of Fyre Fest founder’s financial mismanagement arise

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Just when it seemed that Billy McFarland’s failed Fyre Festival was finally extinguished — McFarland was charged with fraud — and required to place the LLC under involuntary bankruptcy, the organization of yet another McFarland enterprise has come into question.

Seemingly the next McFarland-run company set to smolder is Magnises, a “members-only concierge service.” Founded prior to Fyre Festival LLC, Magnises marketed discounted concerts and event tickets to its members, with the tickets offered purchased from third-party platforms like StubHub, and then sold to members at what is being called a “significant” loss. McFarland is said to have frequently advertised and sold tickets to events that he did not have tickets to, leading McFarland to either cancel the ticket orders made via Magnises, or to supply tickets acquired through a third-party distributor. McFarland frequently bought the tickets on the same day of the scheduled performance.

McFarland orchestrated the ticket purchase and resale system at Magnises via the use of a Fyre Media corporate credit card, charging more than $1 million in tickets in a four-month period. At least nine other employees had possession of a Fyre Media corporate card, including Ja Rule ad Grant Margolin, Fyre’s marketing director, but the only unrelated charges are those that appear on McFarland’s card. The overlap in credit use is problematic as each company, Magnises and Fyre Media, had different aims; Magnises emerged as a ticket distributing service, whereas Fyre Media was intended to be an app for people to book artists for private events. Charges to a Fyre Media credit card for Magnises activity represent those from an entirely different company.

The new financial developments will hinder McFarland’s case, as the company head will have to now answer to officials regarding the ticket scheme that served as the foundation for Magnises.

H/T: Complex

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Fyre Festival Organizer Arrested for Wire Fraud Two Months After Disaster

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The fall out from Fyre Festival continues to unfold.

Fyre Festival founder arrested for wire fraud

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Billy McFarland has become one of the most infamous names on 2017 entertainment headlines after botching Fyre Festival to almost comically epic proportions. It became evident very quickly how incompetent he’d been at budgeting and organizing festivals when guests who’d spent upwards of $12,000 arrived to find cafeteria food, barren disaster relief tents, and general chaos at the grounds.

Well-off and upset millennials immediately began piecing together class action lawsuits after the madness, however these lawsuits have now become the least of McFarland’s miseries as a brand new scandal has erupted.

The tech financier fell under arrest by federal agents on Friday, June 30 under one charge of wire fraud. According to prosecutors, he’d lied on important documents and inflated his company’s net worth in order to seduce investors. Communications between McFarland and two investor’s who’d poured around $1.2 million into Fyre Media LLC, the festival’s subsidiary company show repeated cases of incorrect information; one in particular showed McFarland claiming his company had earned millions the year before, when in reality it had only netted about $57,000.

McFarland’s arrest came after investigations by the FBI. He’s currently looking at 20 years in prison if found guilty. While Ja Rule has also been implicated in a number of complaints and cases files, he has yet to be arrested.

H/T: New York Times

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This Festival Marred Deep in Controversy is Now Also on the F.B.I.?s ?FYRE?ing Line

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Almost a month down the line, the ‘Fyre’ is still raging with controversies galore!

Fyre Festival Organizers Reportedly Facing FBI Fraud Investigation

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THERE’S EVEN MORE BAD NEWS FOR JA RULE & HIS PARTNERS

Fyre Festival reportedly under investigation by FBI for fraud

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The New York Times reports the company behind Fyre Festival is under investigation by the FBI.

According to a source close to the matter, Billy McFarland’s Fyre Media is being investigated by the FBI for possible mail, wire and securities fraud. The investigation is being overseen by “a prosecutor assigned to the complex frauds and cybercrime unit.”

Fyre Festival was originally suppose to take place on a private island in the Bahamas at the end of April, and was promoted by celebrities via Instagram as one of the most coveted music festivals of the summer. However, the event was cancelled after attendees reported “refugee camp conditions” upon arrival.

The disaster of an event has left many attendees out of pocket but has been even worse for local businesses and residents. In a leaked call, Fyre Media told staff they would not be getting paid, but were welcome “to stay and help out”.

As the Times reports, local restaurant owners, event coordinators, and carpenters are still owed hundreds of thousands of dollars from the festival. One man, a local carpenter, says he was asked to work 18-hour days to build housing because organizers were in a rush to complete the venue before attendees arrived. He said he hasn’t been paid and told the Times his lights and water have been shut off because he couldn’t afford the bills. MaryAnn Rolle, a local restaurant owner, says Fyre still owes her $134,000 from the festival for providing food.

Much of the remaining equipment was rented from other companies, both locally and in the US. Bahamian authorities are holding some of the rented equipment because Fyre still owes the government more than $300,000. Some business owners are incurring much greater losses because they have less equipment to rent. One Miami company that furnished equipment estimates $10 million in unpaid fees and business lost.

What started off as a highly anticipated event has turned into a highly damaging situation for local business owners and residents living in the area. We will undoubtedly see more of the story unravel through FBI involvement within the next coming weeks.

Via: The New York Times

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WayHome Offers Free Entry to Fyre & Pemberton Ticketholders!

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WayHome Music Festival is lending a hand to desperate music fans